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Person-to-person payments are a core area of interest beyond just the banking industry. The news that PayPal is bringing Venmo into e-commerce should be serious concern for many companies that wanted a piece of the P-to-P pie. But Venmo's success does not necessitate others' failure.

Although late to the game and with a number of false starts, FIs are finding fresh hope in Zelle as the "grown up" P-to-P app. Venmo may have succeeded by targeting millennials with their own version of P-to-P, but that's not the only factor at play.